-Fresh fruit (haven't tried rotten, for obvious reasons), cans of food, will be consumed, will affect Hunger/Thirst status, and the icon will disappear from inventory.
However, the game acts as if the item is still there (i.e. You cannot place an item in the slot the Apple was just in). Your backpack indicates 24/25, however you cannot use the one blank space.
-Upon restart, the food you just consumed will be back in inventory, in the slots that were unable to be moved into.